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The Independent UK
The Independent UK
National
Yuri Kageyama

Japanese automaker Nissan cuts 9,000 jobs as its vehicles fail to sell

Nissan Makoto Uchida Japan
Japan Nissan - (Copyright 2023 The Associated Press. All rights reserved)

Nissan reported Thursday a loss for the latest fiscal quarter as its vehicle sales sank while costs and inventory ballooned, prompting the Japanese automaker to slash 9,000 jobs.

Chief Executive Makoto Uchida said he was taking a 50% pay cut to take responsibility for the dismal results, while promising that a turnaround was coming.

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